Blog Post

Best Practices When Collecting Rent

Dustin Edwards • May 03, 2023

Every month your tenant needs to pay their rent. It's on you to ensure they have an easy way to pay it. Collecting rent can make you seem like the “bad guy” in the eyes of some tenants. Ensuring you provide the best way for them to pay their rent can complete the transaction far more accessible for them and more convenient for you.


Today we’ll review some of the best practices you can do when collecting rent from your tenants.


Picking it Up in Person

The simplest way to collect rent is to pick it up in person. It may seem inconvenient because you must set time aside from your schedule to pick it up at first glance. However, picking up the rent in person does have a few benefits. It allows you to see how the property’s exterior is doing. You can see firsthand any issues the parcel may be dealing with. Collecting rent in person can help tenants form a good habit of paying on time. This also opens up a channel of communication with your tenants. Having good communication with tenants is a great way for them to inform you directly of how your Long Beach rental property is doing. During your visit, you can also do simple maintenance in the building, such as inspecting the fire alarms, air filters, and lighting.


Send Payment Via Mail

Having tenants send money orders or checks through the mail is a tried and true way for tenants to pay rent. That being said, it's advised for you to set up a PO Box if you don’t want your tenant to know your address. While mailing in rent does work, paying rent is relatively slow. Although a tenant may send the rent off on the first of the month, you may not receive it for three to five days, which means that even though they’ve paid already, the old saying “checks in the mail“ begins to make more sense.


Paying Online

Giving tenants the most choices to pay rent is vital to ensuring they deliver it on time. Nowadays, everyone owns a computer or a smartphone, making paying and collecting rent incredibly easy and hassle-free. Save yourself a trip to the bank as well as your tenants. Online payments reduce the cash and checks you need to handle, which can cause some concerns. Online prices are incredibly accurate as they can be tracked in real time by the tenants and landlords. While convenient, paying online has a couple of negatives, namely the potential for fraud. Tenants must provide their financial information for online payment, which hackers can sometimes steal. Online prices may also include fees to use their system. These fees can quickly add up over time, which isn’t great when working with a small budget. 


Collection Through Property Manager

One of the most critical services a property management company provides. As a new month begins, a good property management company should be able to collect rent from tenants using various methods such as paper checks, online payments, cash, or automated payments. If you decide to manage your rental property, keeping up with all the options can be daunting. Property management companies aren’t just “rent collectors'' they provide many services. Having a property manager comes with a cost, and you must decide if the benefits outway the price.


Every situation is different, and ensuring you receive rent consistently is critical to success. If you’re unsure of how to collect rent best or have more questions on the best practices, we invite you to call us today at (562) 888-0247, or you can fill out our
Owner Application online.

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By Dustin Edwards 01 May, 2024
Everyone wants to feel safe in their homes. As an investment property owner, it's up to you to decide whether or not to include security measures in your property. Many of the costs associated with the security measures can be included in the rent, meaning not only can you keep your property safe, but you can earn more income in the long run. However, you would still want your tenants to have renters insurance to protect their assets. Today, we’ll discuss the top five security measures you can add to your property and why they're beneficial to you and your tenant. Security Cameras Cameras are probably one of the first security measures people think about when asked about security. Cameras provide more benefits than just surveillance. They provide an extra level of security for the safety of the tenants and their belongings. Additionally, security cameras can be useful when repairs are required. Cameras can aid in supervising repairs and maintenance to ensure you’re receiving the agreed-upon work. During vacancies when the property is empty, security cameras can help keep the property safe from potential intruders. Doorbell cameras are incredibly popular now. They provide the aforementioned safety of a camera that can be accessed remotely, as well as the ability to communicate with visitors. Although one must be careful never to say you're not home, just say you're unavailable to strangers. Security Lights Security lights with motion detectors are another effective tool when adding security measures to your property. These lights brightly if a potential intruder attempts to get near your home. They can provide enough illumination to see the intruder or, at the very least, scare them off. Nowadays, you can find a combination of security cameras and motion-activated security lights, such as the floodlight cam wired plus from Ring . Additionally, because these lights only turn on when motion is detected, they’re more cost-effective than traditional lights with a switch. Illuminate the Property Light generally deters intruders as it's more difficult to hide. Adding lighting to the landscaping can increase the security of the property while creating a relaxing atmosphere. Lights can also be used in other areas of the property to accent features such as trees, benches, or artwork. This can help your property stand out while giving your tenants an additional feeling of safety. Keyless Entry Keyless entry is seen as both a convenience feature and a security feature. They usually use an electronic passcode, biometric data, or grant access through a smartphone app. Physical keys can be lost, stolen, or duplicated. You reduce the risk of unauthorized entry by eliminating the need for a physical key to enter the property. Many keyless entry systems include several features, such as remote locking and monitoring. Although keyless entry is a great new technology for keeping your tenants and properties safe, they’re best used with other security systems. Security Company Nothing beats having an extra pair of eyes on your property for security. This is where security companies like ADT and SimpliSafe come in. While companies may deal with security in varying ways, they aim to protect your investment. While safety is the primary role of a security company, remember that many tenants may be willing to pay more for a premium amenity like a home security company. Keeping your property and tenants safe is incredibly important to the longevity of an investment property. If you’re looking to improve the security of your Long Beach rental property or need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or fill out our Owner Application online .
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